Duke Energy (DUK) reported net income of $1.6 billion ($1.551 billion) in the third quarter of 2026, compared with $1.4 billion ($1.407 billion) in 3Q25. Earnings per share (EPS) were $1.99, versus $1.81 in the same period of the prior year. Adjusted EPS (non-GAAP, which excludes items the company considers non-recurring) was also $1.99, as there were no special items in the quarter.
The company attributes the increase to the recovery of infrastructure investments in growing regions and favorable weather. These factors were partially offset by higher depreciation, effects of minority-interest investments, higher interest expenses and a higher effective tax rate, at 15.3% versus 10.8% in 3Q25.
Operating revenue totaled $9.1 billion ($9.104 billion), up 6.6% from $8.5 billion ($8.542 billion) in 3Q25. The Electric Utilities and Infrastructure segment had earnings of $1.8 billion ($1.817 billion), versus $1.7 billion ($1.658 billion). The Gas Utilities and Infrastructure segment had a loss of $19 million, versus a loss of $26 million.
For the nine months, EPS was $5.34, versus $4.81 in 2025. Adjusted EPS was $5.35, reflecting effects of legal and regulatory settlements and the sale of the Piedmont business in Tennessee.
Duke Energy narrowed its 2026 adjusted EPS guidance to between $6.70 and $6.80. It also reaffirmed long-term annual adjusted EPS growth of 5% to 7% through 2030, based on the 2025 guidance midpoint of $6.30. The company says the addition of 16 gigawatts of generation capacity is planned through 2031.
